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Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024.
Technical Analysis of Intraday Price Movement of Litecoin Cryptocurrency, Friday April 19 2024.
Crypto-currencies
2024-04-19 02:09:30
From what wee seen on the 4 hour chart of Litecoin cryptocurrency, we can conclude that currently still inside the selling pressure where this weakness confirmed by the Death Cross of MA 20 which is under MA 200, as well as the appearance of Rising Wedge pattern as well as Stochastic Oscillator indicator which managed to breaks below the overbought level (80) so that in the near future Litecoin has the potential to weaken although there is a potential of strengthening correction to the level area of bearish Fair Value Gap, but as long as the strengthening correction does not break above the level 94,62, then Litecoin still inside the selling pressure so that will have the potential to continue its weakness until the level area of 78,66-76,22 as the main level area target and if the momentum as well as the volatility is supporting enough, then Litecoin will continue its weakness until level 70,73.
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